In the immediate aftermath of a security incident, the focus is naturally on the project’s internal team. But behind the scenes, a critical second front is opened, manned by a diverse group of external experts: professional security firms, white-hat hacking groups, and a loose-knit but powerful collective of on-chain sleuths known as OSINT researchers.
In a landscape where crypto hacks reached $2.2 billion in 2024 and are projected to escalate, the role of these unseen first responders has never been more critical. The recent updates on the Shibarium bridge incident, which explicitly acknowledged the vital role of these groups, pull back the curtain on the collaborative defense that defines a modern crisis response.
In Brief:
The moment a hack is confirmed, the clock starts ticking.
The first call a project makes is often to a professional incident response firm. These teams, like Hexens, PeckShield, and Seal 911, are the digital equivalent of a SWAT team, descending on the crime scene with a single purpose: containment.
Their first task is to stop the bleeding.
They work with the internal developers to analyze the attack vector, patch the immediate vulnerability, and secure any remaining funds, often moving them to offline hardware wallets. Simultaneously, they begin the forensic work, taking a snapshot of the compromised systems and the blockchain to preserve evidence.
This is the methodical, often unseen work that happens in the chaotic hours while the community is still grappling with the initial shock.
Once the breach is contained, the hunt begins in earnest.
This is where the second group of allies, the independent OSINT (Open-Source Intelligence) researchers, take center stage. These on-chain detectives, often operating under pseudonyms, are masters of the public ledger.
Using sophisticated analysis tools and a deep understanding of blockchain mechanics, they follow the digital breadcrumbs left by the attackers. They trace stolen funds as they are swapped on decentralized exchanges, tumbled through privacy mixers like Tornado Cash, and bridged across multiple chains. By analyzing transaction patterns and wallet histories, they can often link disparate addresses to a single entity.
The work of researchers like the renowned ZachXBT has become legendary in the space. His public investigations, often shared on X, have created a powerful, crowd-sourced intelligence network.
His on-chain analysis has been credited with contributing to the seizure of over $31 million from the Uranium Finance exploit and helping to attribute the massive ByBit hack to the state-sponsored Lazarus Group.
These two groups, the formal security firms and the independent OSINT researchers, form a powerful, if sometimes uneasy, alliance. The firms provide the structured, private analysis for the project, while the researchers provide the agile, public pressure that can force exchanges to act.
But their fight is an uphill one.
While experts estimate that 70-80% of stolen funds in major cases are successfully traced, the final recovery rate is often below 20%. The speed of crypto and the sophistication of anonymization tools mean that by the time the trail is found, the money is often gone for good.
The involvement of these unseen allies is now the undisputed standard for a professional crisis response. They are the ones who provide the first light in the fog, transforming the chaos of a hack into a methodical investigation. Their work is a tacit acknowledgment that in the complex, high-stakes world of Web3, no project stands alone.
